GBP futures: extra consolidation likely

In light of preliminary figures for GBP futures markets from CME Group, investors trimmed their open interest positions by just 243 contracts on Tuesday from Monday’s 169,897 contracts. Volume, instead, increased by around 23.5K contracts.

GBP/USD poised for extra consolidation

Choppy performance in Cable along with unconvincing activity in volume and open interest leaves the continuation of the consolidative scenario the most likely outcome in the near tem.